Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Equity Bottom-Up

<ul><li>Link has appointed a former Nuveen executive to lead its expansion into Japan, signaling the company's commitment to growing its presence in the region.</li><li>Amara Chairman is spearheading a $392 million bid to privatize a Singapore hotel group, demonstrating a growing trend of investments in the hospitality industry.</li><li>ANREV reports a significant decline of over 50% in global real estate capital raising from its peak in 2022, highlighting challenges in the current market environment.</li></ul>

Link has appointed a former Nuveen executive to lead its expansion into Japan, signaling the company's commitment to growing its presence in the region.Amara Chairman is spearheading a $392 million bid to privatize a Singapore hotel group, demonstrating a growing trend of investments in the hospitality industry.ANREV reports a significant decline of over 50% in global real estate capital raising from its peak in 2022, highlighting challenges in the current market environment.

Asia Real Estate Tracker (29-Apr-2025): Link Points Tokyo expansion with Nuveen executive hire

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/amara-holdings-ltd" target="_blank" data-smartkarma-citation="entities:2692:1" rel="noopener">Amara Holdings (AMA SP)</a>, a property/hotel play, has <a href="https://links.sgx.com/FileOpen/Offer_Announcement%20-%2028%20April%202025.ashx?App=Announcement&amp;FileID=842944" target="_blank" rel="noopener">announced</a> a best-and-final conditional S$0.895/share cash Offer, a 27% to undisturbed and a lifetime high, from the controlling Teo family.</li>
<li>If Amara sounds familiar, in November 2023, the family <a href="https://links.sgx.com/FileOpen/Offer_Announcement.ashx?App=Announcement&amp;FileID=778029" target="_blank" rel="noopener">launched </a> a best-and-final unconditional cash Offer at S$0.60/share as discussed in <a href="https://skr.ma/CYHLC" target="_blank" rel="noopener">Amara (AMA SP): Teo Family's Lifetime High Offer.</a>
</li>
<li>This new Offer has a 90% acceptance condition. Irrevocables tally 90.58%. Done and done. </li>
</ul>



Amara Holdings (AMA SP), a property/hotel play, has announced a best-and-final conditional S$0.895/share cash Offer, a 27% to undisturbed and a lifetime high, from the controlling Teo family.
If Amara sounds familiar, in November 2023, the family launched  a best-and-final unconditional cash Offer at S$0.60/share as discussed in Amara (AMA SP): Teo Family's Lifetime High Offer.

This new Offer has a 90% acceptance condition. Irrevocables tally 90.58%. Done and done. 


Amara (AMA SP): Teo Family Reloads At S$0.895/Share

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/amara-holdings-ltd" target="_blank" data-smartkarma-citation="entities:2692:1" rel="noopener">Amara Holdings (AMA SP)</a> has disclosed a voluntary conditional offer from a three-member consortium at S$0.895 per share, a 27.0% premium to the last close price. </li>
<li>Irrevocables, including from the 2023 VGO offeror, represent 90.58% of the outstanding shares, ensuring that the 90% minimum acceptance condition will be satisfied and the offer will be declared unconditional. </li>
<li>The offer price is final. The offer is attractive and represents an all-time high, and is 49.2% above the 2023 VGO price. </li>
</ul>



Amara Holdings (AMA SP) has disclosed a voluntary conditional offer from a three-member consortium at S$0.895 per share, a 27.0% premium to the last close price. 
Irrevocables, including from the 2023 VGO offeror, represent 90.58% of the outstanding shares, ensuring that the 90% minimum acceptance condition will be satisfied and the offer will be declared unconditional. 
The offer price is final. The offer is attractive and represents an all-time high, and is 49.2% above the 2023 VGO price. 


Amara Holdings (AMA SP): Conditional VGO at S$0.895

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dai-ichi-life-insurance" target="_blank" data-smartkarma-citation="entities:1109:1" rel="noopener">Dai Ichi Life (8750 JP)</a> has the wherewithal, and probably the synergies to make a bump for <a href="https://www.smartkarma.com/entities/benefit-one-inc" target="_blank" data-smartkarma-citation="entities:14502:1" rel="noopener">Benefit One (2412 JP)</a> work. M3 is clearly not in the driver's seat.</li>
<li>
<a href="https://www.smartkarma.com/entities/china-united-network-a" target="_blank" data-smartkarma-citation="entities:12620:1" rel="noopener">China United Network (600050 CH)</a> is, for all intent and purpose, a pseudo-A to <a href="https://www.smartkarma.com/entities/china-unicom-hong-kong-ltd" target="_blank" data-smartkarma-citation="entities:1016:1" rel="noopener">China Unicom (762 HK)</a>. Go long Unicom, short United due to Unicom's significantly cheaper valuation.</li>
<li>
<a href="https://www.smartkarma.com/entities/zhejiang-expressway-co-h" target="_blank" data-smartkarma-citation="entities:2178:1" rel="noopener">Zhejiang Expressway (576 HK)</a> has had a stonking run since its rights issue. Look to unwind this set-up and take the other side: short Expressway, long <a href="https://www.smartkarma.com/entities/zheshang-securities-co-ltd" target="_blank" data-smartkarma-citation="entities:29981:1" rel="noopener">Zheshang Securities (601878 CH)</a>.
</li>
</ul>



Dai Ichi Life (8750 JP) has the wherewithal, and probably the synergies to make a bump for Benefit One (2412 JP) work. M3 is clearly not in the driver's seat.

China United Network (600050 CH) is, for all intent and purpose, a pseudo-A to China Unicom (762 HK). Go long Unicom, short United due to Unicom's significantly cheaper valuation.

Zhejiang Expressway (576 HK) has had a stonking run since its rights issue. Look to unwind this set-up and take the other side: short Expressway, long Zheshang Securities (601878 CH).



Last Week in Event SPACE: Benefit One, China Unicom, Zhejiang Expressway/ Zheshang Sec, Hollysys

<ul>
<li>I tally 46 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.</li>
<li>Two new deals discussed this week on Smartkarma: <a href="https://www.smartkarma.com/entities/genetron-holdings-ltd" target="_blank" data-smartkarma-citation="entities:28435:1" rel="noopener">Genetron Holdings Ltd (GTH US)</a>'s take-private transaction; and<a href="https://www.smartkarma.com/entities/medley-inc" target="_blank" data-smartkarma-citation="entities:31041:1" rel="noopener">Medley (4480 JP)</a>'s buy out of <a href="https://www.smartkarma.com/entities/guppy-s-inc" target="_blank" data-smartkarma-citation="entities:40692:1" rel="noopener">GUPPY's Inc (5127 JP)</a>.</li>
<li>Key updates took place on: <a href="https://www.smartkarma.com/entities/orecorp-ltd" target="_blank" data-smartkarma-citation="entities:8120:1" rel="noopener">Orecorp (ORR AU)</a>, <a href="https://www.smartkarma.com/entities/weiqiao-textile-co" target="_blank" data-smartkarma-citation="entities:3690:1" rel="noopener">Weiqiao Textile (2698 HK)</a>, <a href="https://www.smartkarma.com/entities/benefit-one-inc" target="_blank" data-smartkarma-citation="entities:14502:1" rel="noopener">Benefit One (2412 JP)</a>, <a href="https://www.smartkarma.com/entities/taisho-pharmaceutical-holdin" target="_blank" data-smartkarma-citation="entities:3774:1" rel="noopener">Taisho Pharmaceutical (4581 JP)</a>, <a href="https://www.smartkarma.com/entities/t-k-toka-co-ltd" target="_blank" data-smartkarma-citation="entities:18678:1" rel="noopener">T&amp;K Toka (4636 JP)</a>, and <a href="https://www.smartkarma.com/entities/hollysys-automation-technologies" target="_blank" data-smartkarma-citation="entities:26078:1" rel="noopener">Hollysys Automation Technologies (HOLI US)</a>.</li>
</ul>


I tally 46 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Two new deals discussed this week on Smartkarma: Genetron Holdings Ltd (GTH US)'s take-private transaction; andMedley (4480 JP)'s buy out of GUPPY's Inc (5127 JP).
Key updates took place on: Orecorp (ORR AU), Weiqiao Textile (2698 HK), Benefit One (2412 JP), Taisho Pharmaceutical (4581 JP), T&amp;K Toka (4636 JP), and Hollysys Automation Technologies (HOLI US).


(Mostly) Asia-Pac Weekly Risk Arb Wrap: Genetron, Guppy, Weiqiao Textile, Taisho Pharma, T&K Toka

Singapore

Amara Holdings Limited is a Singapore-based investment holding company. It is principally engaged in hotel investment and management, property investment and development, and specialty restaurants and food services. The company was founded in 1970 and is headquartered in Singapore.

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Amara (AMA SP)

Asia Real Estate Tracker (29-Apr-2025): Link Points Tokyo expansion with Nuveen executive hire

Link hires Tokyo Nuveen exec, Amara Chairman leads $392M bid in Singapore, while global real estate capital raising drops by over 50% from peak in...

Asia Real Estate Tracker

Amara Holdings (AMA SP): Conditional VGO at S$0.895

The offer price is final. Irrevocables ensure that it will be declared unconditional. The offer is attractive and represents an all-time high, and...

Arun George

Last Week in Event SPACE: Benefit One, China Unicom, Zhejiang Expressway/ Zheshang Sec, Hollysys

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

(Mostly) Asia-Pac Weekly Risk Arb Wrap: Genetron, Guppy, Weiqiao Textile, Taisho Pharma, T&K Toka

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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Asia Real Estate Tracker (29-Apr-2025): Link Points Tokyo expansion with Nuveen executive hire

Link hires Tokyo Nuveen exec, Amara Chairman leads $392M bid in Singapore, while global real estate capital raising drops by over 50% from peak in...

Asia Real Estate Tracker

Amara (AMA SP): Teo Family Reloads At S$0.895/Share

Amara has announced a best-and-final conditional S$0.895/share cash Offer, a 27% to undisturbed, from the Teo family. This new Offer has a 90%...

David Blennerhassett

Amara Holdings (AMA SP): Conditional VGO at S$0.895

The offer price is final. Irrevocables ensure that it will be declared unconditional. The offer is attractive and represents an all-time high, and...

Arun George

Last Week in Event SPACE: Benefit One, China Unicom, Zhejiang Expressway/ Zheshang Sec, Hollysys

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

(Mostly) Asia-Pac Weekly Risk Arb Wrap: Genetron, Guppy, Weiqiao Textile, Taisho Pharma, T&K Toka

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett